IDBI IFSC code is an 11-digit code assigned to all the branches of IDBI by the Reserve Bank of India. This unique alphanumeric code is used to transfer funds between banks as it can identify where the funds are coming from and where they are going.
Format of IDBI Bank IFSC Code
IDBI is structured in a pattern where the first 4 characters specify the bank, the fifth character is zero which is similar across all IFSC codes. The remaining letters represent the branch of IDBI.
| Bank code | Zero | Branch code | ||||||||
| I | B | K | L | 0 | 0 | 4 | 0 | 4 | 0 | 2 |
Examples of IDBI IFSC Code:
| Branch | IFSC Code |
| Adoni, Andhra Pradesh | IBKL0001680 |
| Sonari, Assam | IBKL0002105 |
| Gaya, Bihar | IBKL0000414 |
Why do we need the IDBI IFSC Code?
IFSC code is required during the fund transfer process as it aids in routing payments to the right IDBI Branches during the NEFT and RTGS transactions. A payer is supposed to provide all the required details including the IFSC code of both the remitter’s and the beneficiary’s branch to transfer funds in an error-free manner.
How to transfer funds using the IDBI IFSC Code?
The three major ways to transfer funds using the IDBI IFSC Code are as follows
| NEFT | RTGS | IMPS |
| Also known as National Electronics Fund Transfer | Also known as Real Time Gross Settlement | Also known as Immediate |
| It is a payment system whereby funds are transferred to the recipient’s account on a one-on-one transfer basis | It is a payment system which is meant for large value transactions and the fund is transferred in real-time | IMPS is another payment system wherein the funds are transferred on a real-time basis and is available 24*7 throughout the year |
How to find the IDBI IFSC Code & MICR Code?
Below are the different ways to look for the IDBI IFSC code & MICR code:
- Paisabazaar IFSC Tool Locator
- Step 1: Visit the Paisabazaar IFSC Tool Locator
- Step 2: Check the IDBI IFSC on Paisabazaar easily by providing details such as Bank Name, city name, and the state name
- Step 3: Finally, select the branch name and the IFSC code of the required branch will be displayed on the screen
- Reserve Bank of India Website: Visit the official website of the RBI and look for the IFSC and MICR code of the required IDBI Branch.
Where to find IDBI IFSC Code?
- One can look in the IDBI Cheque book to get the IFSC Code of their respective branch. The image below will help to understand better
- IFSC Code is mentioned at the top of the cheque whereas the MICR Code and the cheque number are mentioned at the bottom
- Account-holders can also check their IFSC Code on the passbook provided by the bank
- IDBI Netbanking and IDBI Mobile banking are the other two platforms for the same
What is the IDBI MICR Code?
MICR Code abbreviated for Magnetic Ink Character Recognition is a code written in a thin strip at the bottom of the cheque right next to the cheque number. The main purpose of this code is to identify the various IDBI Bank Branches and process the transactions faster.
Examples of IDBI MICR Code:
782259102 is the MICR Code of Nagaon Branch, Assam
800259002 is the MICR Code of Patna Branch, Bihar
Where to find IDBI MICR Code?
- One can look in the IDBI Cheque book to find the MICR Code of their respective branch
- IFSC Code is mentioned at the top of the cheque whereas the MICR Code and the cheque number is mentioned at the bottom
- Accountholders can also check their MICR Code on the passbook provided by the bank
- IDBI Netbanking and IDBI Mobile banking are the other two platforms for the same
What is the IDBI Swift Code?
IDBI SWIFT Code is an internationally recognized identification code used for international wire transfers across the globe.
The code consists of 8 to 11 alphanumeric digits that are required to carry out overseas fund transfers.
How to find the IDBI Swift Code?
Getting in touch with the IDBI Customer Care department is the best way to find out the required IDBI SWIFT Code.
Difference between IDBI Bank IFSC, MICR & SWIFT Code
| IDBI IFSC Code | IDBI MICR Code | IDBI SWIFT Code |
| Abbreviated for Indian Financial System Code | Abbreviated for Magnetic Ink Character Recognition | Abbreviated for Society for Worldwide Interbank Financial Telecommunication |
| IDBI IFSC code is an 11-digit code assigned to all the branches of IDBI by the Reserve Bank of India. This unique alphanumeric code is used to transfer fund between banks as it can identify where the funds are coming from and where they are going | MICR Code is a 9-digit code written in a thin strip at the bottom of the cheque to identify the various IDBI Bank Branches and process the transactions faster | IDBI SWIFT Code is an internationally recognized identification code used for international wire transfers across the globe |
| Used to transfer funds within the country | Used within the country | Used to transfer funds internationally |
FAQs
How to locate the nearest IDBI branch from IFSC Code?
The last six digits of IDBI IFSC are indicative of the IDBI branch. Let’s consider an example for better understanding
Here IBKL0001680 is the IFSC code of Adoni, Andhra Pradesh branch:
| Bank Code | Zero | Branch Code | ||||||||
| I | B | K | L | 0 | 0 | 0 | 1 | 6 | 8 | 0 |
Does IDBI Credit Card have IFSC Code?
IDBI IFSC Code is meant for carrying out fund transactions between various bank branches. IDBI Credit card has no relation with the IFSC Code.
But the customers are required to enter the IDBI Credit card IFSC Code while making a payment via IDBI Credit card.
What is the IDBI CIF Number?
IDBI CIF number is the customer number with the bank to which all the accounts of customers are linked. No two customers can have the same CIF number as per the guidelines of the RBI.
What is IDBI BSR Code?
A BSR code is a 7-digit code assigned by the RBI to all the registered banks within the country. The code is used while filling Tax deduction at Source (TDS) and Tax Collection at Source (TCS).
BSR Code structure
BSR code is formed in such a way that the first three digits represent the bank and the last four digits represent the branch.
How to find the IDBI branch Code?
The last six digits of IDBI IFSC are indicative of the IDBI branch. Let’s consider an example for better understanding-
| Bank Code | Zero | Branch Code | ||||||||
| I | B | K | L | 0 | 0 | 0 | 0 | 4 | 1 | 4 |
The last six digits “000414” represent the branch Gaya.